For others' edification, the transcript this excerpt comes from can be found
here. Here's my opinion on this question:
Channeling is an inherent aspect of self-consciousness within the manifest Creation. One could say that when a second density mind/body complex learns to strive towards the light of spirit, it is learning to "channel" by becoming invested with a connection to the spirit complex that is distinct from its species consciousness. This makes possible a type of selfhood that can reflect and notice its own situation, much as the Creator has accomplished through manifesting the Creation (recall Ra's point that evolution of individual entities recapitulates the process of overall Creation).
Our second density vehicles channel our own third density consciousness through the different chakras to manifest it in various ways, most notably our yellow-ray social identities and or orange-ray personal identities that we all know each other as here. This is a specific instance of a greater phenomenon by which the less dense Creation is governed by the more dense Creation as we learn to extend ourselves through the Creation's layers. Channeling is the means by which self-consciousness occurs in manifestation.
Not only can we channel ourselves through our mind/body/spirit complex, but we can channel other identities as well. Since the Creation is a unity, we can blend our consciousness with any other addressable part of the Creation. We do this all the time in order to communicate, because if you reflect on how you communicate with other people, you'll see that there's always a certain aspect of "putting oneself in the other's shoes" in order to figure out how to transmit a message that has meaning to both you and the other party. We merge with other identities, or addressable parts of the Creation, all the time in order to communicate. Even if we don't always get communication right, the fact that there is an overarching context in which both the thoughts of the sender and thoughts of the recipient can intelligibly exist makes communication possible in the first place.
Consciously channeling discarnate entities is very similar: we tune to the vibration of another addressable consciousness and allow a blending of thoughts so that something intelligible can be transmitted from the context of one identity to a completely other context of another identity. If the Creation weren't unified, the overarching context making the message intelligible on both sides couldn't occur. If identity were a rigid, fixed concept, we could never conceive of an idea that another could be expected to understand.
We regard conscious channeling of discarnate entities as a novel phenomenon because we don't understand how communication really works, how communication presupposes a unified Creation in which separate identities are not absolute.
All channeling is of the Creator because all experience and phenomena are of the Creator. However, this reality is not entirely satisfactory or useful because our experience is typified by the drama of interacting with otherselves -- otherselves with seemingly fixed identities. The mirroring effect that otherselves produce would be far less useful if they lacked the familiarity that we gain from assuming fixed identities for ourselves and otherselves. In the same sense, to speak of channeling as communication between subsets of the Creator, rather than to and from a single overarching entity, makes more sense in our daily lives because we can place it on a continuum with other, more mundane communications in the illusion. This doesn't mean it's not the same thing; it's just that we model it in terms that we understand in the third density illusion.
Hope this helps! Would be interested in any thoughts on my theory above.